Sportingbet Gets a Boost from Mobile Gambling.

Sportingbet, which is based in the Channel Islands, released an iPhone application six months ago. In that time they say that the number of their customers placing bets via their mobile phones has increased by 1000%.

Ten thousand Sportingbet customers now use their mobile phones to gamble on the site. This accounts for more than 7% of their regular customers in their biggest markets. This trend shows no signs of abating and is expected to rise as smartphones become more popular.

Mobile gambling helped drive live betting on sporting fixtures up by 27% in the quarter ending on the 31st May.

There was an increase in total amounts wagered of 11% to £513.9 million. Underlying profits rose by 17% to £11.3 million. This was helped along by growth in online gaming in Australia.

The increased availability of broadband and growing trust in online financial transactions has benefitted Sportingbet.

Earlier last month, Sportingbet said they had abandoned merger talks with Swedish company Unibet but are still talking to other parties.

Analysts believe that the company will probably merge with a competitor. They recently consented to a payment of £21.3 million to the Unites States Department of Justice for online gaming. This ended a continuing legal matter that had been hanging over Sportingbet. Now that it has been resolved, it clears the way for any potential mergers and acquisitions.

Last month, Sportingbet announced that they had entered into a joint venture with the First International Bookmakers Company, Russia's second largest bookmaker.